DATA ENCRYPTION AND PRIVACY IN MODERN FINANCIAL SYSTEMS: A TECHNICAL DEEP DIVE

Abstract

This comprehensive exploration of data security in modern financial systems addresses critical aspects of encryption, masking, regulatory compliance, and performance optimization. It encompasses the evolving landscape of cybersecurity strategies, focusing on how financial institutions protect sensitive information through advanced encryption methodologies, both at rest and in transit. The content delves into sophisticated data masking techniques, examining static and dynamic implementations while highlighting their effectiveness in maintaining data privacy. The discussion extends to regulatory compliance measures, particularly concerning PCI DSS requirements and GDPR technical controls, emphasizing the role of automation in ensuring adherence to standards. The text further elaborates on performance considerations and optimization strategies, including hardware acceleration and caching mechanisms, demonstrating how financial institutions balance robust security with operational efficiency. Throughout, the emphasis remains on practical implementations, market trends, and the technological advancement of security measures in the financial sector.